This new high-grade discovery dramatically
enhances the attractiveness of Metanor to prospective suitors in
an area under consolidation. The Company is highly prospective for
additional major high-grade discovery proximal Osisko's Windfall
Project.

Company plans to publish a
resource and reserve update for Bachelor Mine before December
31, 2016.

Company will publish an
independent PEA (all-in costs of US$891/oz) on Barry open pit
before November 4, 2016, and continue to increase the value
following the recommendations from the PEA -- targeting
reopening Mid-2017.

The Company's total
infrastructure is valued (estimated replacement value) at
between CDN$150M to $200M. The Company's primary asset, the
100%-owned Bachelor Mill, has a replacement value of several
times the Company's current market cap and is increasingly being
viewed as a coveted strategic asset being the only mill within
200km in a gold-rich district. The Company has met its cash flow
guarantee to Sandstorm and is now free to mill ore sourced from
outside Bachelor without penalty.

NEW
YORK, NY, November 1, 2016 /Sector Newswire/ - Metanor Resources Inc. (TSX-V: MTO) (US Listing:
MEAOF) (Frankfurt: M3R)this week announced that it intersected 70.9 g/t
Au over 2.6 meters in the Moss Sector located north-east of the
Barry property and south-west of the Windfall property belonging to
Osisko Mining. This drill hole intersects two gold bearing zones
associated with sulphide (15%) in proximity to a regional fault. As
per the drill holes, this dominant geological structure has a
minimal length of 6 km, toward the Windfall property belonging to
Osisko Mining. A segment of 3 km of this structure extends on the
Barry property belonging entirely to Metanor Resources. See attached
figure. A segment of 3 km of this structure extends on the
Barry property belonging entirely to Metanor Resources. This new high-grade discovery
dramatically enhances the attractiveness of Metanor to prospective
suitors in an area under consolidation, as Metanor has quality
grades adjacent Osisko and the only mill around.

Fig. 1 (above) Primary
asset:100%-owned
Bachelor Gold Mill

Figure 2.
(above) Location of new discovery adjacent Osisko

The drill results obtained thus far show high gold
values and more assay results are pending. In addition, the drill
campaign continues in the Moss Sector.

This release may
contain forward-looking statements regarding future events that
involve risk and uncertainties.
Estimates of potential made by the mining analyst are non 43-101 and not from
the Company. Readers are cautioned that these
forward-looking statements are only predictions and may differ
materially from actual events or results. Articles, excerpts,
commentary and reviews herein are for information purposes and are
not solicitations to buy or sell any of the securities mentioned.